The post What’s next for Solana, Render, Fetch.ai and other potential altcoins? appeared first on Coinpedia Fintech News
There is still a big question mark if certain coins, like Solana and Ethereum, are likely to lead the impending pump, with Bitcoin paving the way. While altcoins may initially lag behind, they typically catch up in a few days and analysts have started rolling out lists of coins to keep an eye on and monitor.
Altcoin Sherpa took to his X handle and shared technical analysis about several altcoins that could, starting with IO, a new Binance project showing promising signs of launch success. Considering adding to his position soon, he also noted that BTC appeared poised for a bounce.
Next, he mentioned Render (RNDR), expressing confidence in its potential as a decent AI coin, though the sector’s outperformance in Q3 and Q4 remains to be seen. Despite exiting his position, he observed the price sitting atop the weekly level, wondering if it might mark the bottom.
$RNDR: I got out of my position but I think that it still think it's a decent AI coin. Will AI as a sector outperform most others in Q3 and Q4? To be determined. Price currently sitting on top of the weekly level and holding. Let's see if this is the bottom. pic.twitter.com/R42mcHXAV9
— Altcoin Sherpa (@AltcoinSherpa) June 12, 2024
Moving on to Solana (SOL), he predicted continued range-bound movement between $185 and $120, viewing the consolidation period as healthy following a significant rally. He wrote, “I think SOL is just going to keep chopping around personally between $185 and $120. It’s a big range overall but I think we just continue to see a prolonged period of consolidation. It’s healthy to see this after that huge run to be honest, expecting bigger things later.”
As for Fetch.ai (FET), he stressed the need for patience, suggesting it might be a good buy with indicators like the 200-day EMA and .618 fib suggesting potential support.
Regarding Non-Playable Coin (NPC), he credited it with carrying his portfolio through market chop, expressing confidence in its meme potential and expecting further gains in the future. Toncoin (TON), he believed, was on the brink of breaking its all-time high, while ONDO remained one of the strongest coins despite holding above anticipated levels.
